Charter Units' Deal Helps
Spark Junk-Bond Market

NEW YORK -- Some Charter Communications Inc. units cheered the bond market Friday by easily selling $1.75 billion of securities in the largest junk-bond deal since Level 3 Communications Inc.'s $2.2 billion issue last February.

Originally expected to total $850 million, the Charter offering was increased to meet strong demand, underwriters said. But investors said the deal's success doesn't signal a complete recovery for the...